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Dissecting the Deal - How To Spot a Good Lease

Edmunds.comEdmunds.com Member, Administrator, Moderator Posts: 10,315
edited September 2014 in General

imageDissecting the Deal - How To Spot a Good Lease

Edmunds.com helps you dissect the details of a Car Lease to make sure you're getting the best deal.

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    dreamcatcherdbdreamcatcherdb Member Posts: 2
    RE: Milage Limits...

    I realize these numbers are to be taken hypothetically but you say that a $0.20/mi penalty of 5k mi/yr at 3 years cost an additional $3k so you'd opt to raise your milage allotment by 5k mi per year for an added $103/mo payment. The problem is that after 36mo you'd be adding $3708.00 to the total cost with no guarantee that you even use all those extra miles you already paid for. If somehow you used exactly 5k mi a year more than your 10k mi/yr allotment then at $708.00 less total cost the milage penalty would be the better option. Right?
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    dreamcatcherdbdreamcatcherdb Member Posts: 2
    nevermind... re-reading the article I realized that the $103 is an accumulative adder after already reducing the down payment to zero.

    So actually the 5k/yr miles cost $30/mo for a total of $1080 versus the $3000 penalty; a $1920 savings.

    Got it.
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